RE: Mama Mia!7 Nov 2017 19:00
Another junior miner Bacanora Minerals (BCN.V) is focused on bringing on new soft rock lithium production, which is potentially cheaper to process than hard rock, in Mexico in 2019. But it also decided to seek out a European project and has a 50 percent interest in and joint operational control of the Zinnwald Lithium Project in eastern Germany.
In Mexico, Bacanora already has a pilot project that is producing battery-grade lithium carbonate and has a 10-year offtake, or supply, agreement with Japanese trading house Hanwa <8078.T>.
Hanwa has a nearly 10 percent stake in Bacanora, as does U.S. investment manager BlackRock.
Savannah says it does not yet have offtake deals, but is looking to negotiate with the companies that convert spodumeme concentrate into battery chemicals and with auto manufacturers.
(Editing by Mark Potter)